The deal reflects “the strong relationship between Malaysia and Japan,” Khazanah said in a statement late today, which confirmed an earlier Bloomberg News report on the acquisition.

There were no details given on the transaction value.

Bloomberg News reported in October that Tokyo-based INCJ had contacted prospective buyers for its 21% stake, which it needs to offload by the end of March when its mandate to continue investment activities ends.

Khazanah already owns about 37% of Malaysia’s biggest cellular firm Axiata Group Bhd, which controls 63% of Edotco.

Khazanah also owns almost 11% of Edotco directly.

INCJ announced in December 2016 that it was investing as much as US$400 million in Edotco.

The Kuala Lumpur-based telecom infrastructure firm manages over 55,000 towers in Malaysia, Indonesia, Bangladesh, Cambodia, Sri Lanka, Pakistan, the Philippines, Myanmar and Laos, its website shows.